Jason Schmidt
closing costs? 5k or 10k?
I spoke with a guy at lending tree, and said i was looking at a 185k house with about 50k down on a 15 year mortgage. He said closing costs would likely be 5k. But when i asked the realtor, she said 5-6% which would...
Aj Bowman
Property Gain Taxes in Maryland
Hi Everyone,I am trying to understand how the property gain taxes work in Maryland. I know I can use a 1031 to work around the taxes for a little bit but I will using a private lender so I don't believe that will be a...
Mohsin Mazhar
CPA Cost $1200
Hello Everyone,I am looking to get some idea about CPA expenses.I recently switched to a new CPA. They charged me $1200 to file my taxes.I am married with W2 income and 2 rental properties. What are your thoughts abou...
Shaival Patel
CA senate bill SB584 imposes 15% tax on STR
Any insights into SB584 that places 15% tax on STRs but exempts hotels to fund housing situation? It seems bone crushing high for guests. If you were a new investor in CA market, this tax will lower your occupancy r...
Jonah Wilson
Can I assign a land contract?
I have come across a deal that seems promising. The owner wants 17k for his sfh and will finance. After researching I noticed "7k in delinquent taxes". The value is 26-27k, with that being said my partner wants to off...
Sam Rogers
Anyone use a Deferred Sales Trust?
Deferred Sales Trusts seem like a viable strategy to defer capital gains. But really the only info out there on them is marketing material (I'm talking to you Brett!). I've talked to a few tax accountants and attorney...
Josh Edelson
LLC or S Corp or Umbrella insurance?
Hello - I have 11 properties in my own name and a $2m umbrella insurance policy. I’m looking to eventually get to 20-30 units and want to be prepared. Annoyingly, in the state of California, you have to pay $800/year ...
Lorenzo L.
First Single-Family Fix and Flip at 21 (NEED ADVICE)
Hello all,I'm looking to do my first single family fix and flip in the Greater Boston/Worcester area. I am reaching out to experienced flippers to help me make the process as smooth as possible. Can someone provide me...
Dov Klitnick
Lows on a 1031 exchange
If I do a 1031 exchange but I can't find a new property do I have to pay a penalty or will I just end up having to pay taxes
David Briley
Forming LLC for private money partners
I want to form an LLC with two private investors. I'll run the project and they'll pitch in various amounts of money. Once we get an accepted offer, then we'd just create an LLC just for the property we're working on...